KOSPI and KOSDAQ Both Trigger Sell Sidecars After Market Plunge

[Financial News] South Korean stocks plunged on the 23rd, triggering program sell sidecars on both KOSPI and KOSDAQ.
According to the Korea Exchange (KRX), a sell sidecar was triggered on KOSDAQ at around 11:37 a.m. that day.
A KOSDAQ sell sidecar is activated when KOSDAQ 150 Futures fall by more than 6% from the reference price and the KOSDAQ 150 Index drops by more than 3% from the previous trading day's final level, with both conditions sustained for one minute.
At the time of activation, KOSDAQ 150 Futures were down 106.70 points, or 6.01%, from the previous session.
A sell sidecar was then triggered on KOSPI at 11:40 a.m. A KOSPI sell sidecar is activated when KOSPI 200 Futures fall by more than 5% and remain there for one minute.
At the time, the KOSPI 200 Index Futures had fallen 76.06 points, or 5.12%, from the previous close.

yimsh0214@fnnews.com Lim Sang-hyeok Reporter